Introduction to Sociology/Economy/Jaehyeon Park

https://home.isi.org/read-you-ever-debate-capitalism-again

1.     Summary
This article notice about economy. It says what is economy, and introduces history about economy. And it treat contents about capitalism and socialism. The article explains both norms with informing history and how it works, example of those systems, finally criticism about these norms. Also, in article how can we measure government’s economic activities like GDP, genie coefficient.

2.     Interesting things.

I am usually interested about inequality of wealth. So I was so empathized about capitalism’s criticism that can cause unfair of wealth. So I thought socialism is ideal economic system. But we can see about negative example from our close country, north korea. They selected socialism economic system their inequality of wealth is more serious than us.

So I learned about even though socialism is economic system that pursue equality of wealth distribution, but because of human’s selfishness and country’s system.

And I learned that there are no perfect economic system, so rather than selecting only one economic system, insufficient part must be supplemented by the other economic system.

3.        Discussion

 Capitalism is system that people can be motivated by this system because it’s paid as one’s own effort, but I think because of compete system in capitalism, the unfair of distribution is more serious. So I want to ask the capitalism is really progressive system from a long-term perspective.